The NZD/USD currency pair is experiencing selling pressure, trading 0.37% lower at approximately 0.5730 during the European session on Friday. This decline comes as the New Zealand Dollar (NZD) struggles against a backdrop of cautious market sentiment, affecting its performance against the US Dollar (USD).
As traders brace for the upcoming US Non-Farm Payroll (NFP) data, the NZD's underperformance adds to the pair's bearish outlook. The recent breakdown of the head and shoulders pattern indicates potential further declines, raising concerns about the NZD's resilience in the current trading environment. Market participants will be closely monitoring the exchange rate as the NFP data could significantly influence USD valuation against other currencies.
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Data Source: FX Killer Analysis Team Updated: 2026-01-09 08:57
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.